CollectionsSunoco
IN THE NEWS

Sunoco

FEATURED ARTICLES
NEWS
August 9, 2011
Fuel refiner and seller Sunoco Inc., of Philadelphia, said it will repurchase up to $500 million of its outstanding common stock. Chief executive Lynn L. Elsenhans called the move an "appropriate and strategic use of the company's cash while still allowing the flexibility to continue pursuing growth in our retail and logistics businesses. " Shares closed up $1.17, or 3.91 percent, to $31.11. As of June 30, Sunoco had approximately 121.6 million shares outstanding.    - Reid Kanaley
NEWS
June 22, 2000 | YONG KIM/ DAILY NEWS
A yellow cloud of gritty material from the Sunoco oil refinery blankets South Philadelphia last night. It caused burning eyes and coughing, but company officials said the dust from the 3 p.m. venting posed no threat to residents.
BUSINESS
April 17, 2009 | By Harold Brubaker INQUIRER STAFF WRITER
Sunoco Inc. said yesterday that it was selling its Tulsa, Okla., oil refinery to Holly Corp. for $65 million. The Tulsa refinery, with the capacity to process 85,000 barrels of crude oil a day, is the smallest of Sunoco's five refineries, which include three in the Philadelphia area. The deal is expected to close June 1, pending regulatory approvals, Philadelphia-based Sunoco said. The sale comes at a time when some analysts expect refiners to close some of the smaller U.S. refineries because demand for gasoline and other refined products is down.
BUSINESS
January 23, 2004 | By Harold Brubaker INQUIRER STAFF WRITER
Lower-than-expected profit margins in refining and a 25-day maintenance shutdown at its South Philadelphia refinery caused Sunoco Inc.'s fourth-quarter refining profit to fall by more than half, to $20 million from $48 million, the company reported yesterday. On the news, the Philadelphia company's shares gave back little of the more than $20 they had gained since August, falling 1 percent, to $56.07. Shares in independent petroleum refiners are at a cyclical peak, with many analysts seeing them headed into a period of strong profit because of, among other factors, clean-fuel regulations that tighten supply.
BUSINESS
February 27, 2009 | By Jeff Gelles INQUIRER STAFF WRITER
As Sunday's expiration of their contract with Sunoco Inc. nears, workers at the company's Philadelphia and Marcus Hook refineries yesterday stepped up efforts to protest staffing cutbacks they say will endanger workers and nearby neighborhoods. Several hundred refinery workers rallied outside Philadelphia's City Hall, then marched to Sunoco's headquarters. Union officials said they presented petitions against the cutbacks signed by about 2,000 people who live near the refineries.
SPORTS
July 10, 2008 | By BILL FLEISCHMAN For the Daily News
Think it's a snap supplying racing fuel to NASCAR's teams? For Philadelphia-based Sunoco, now in its fourth year as NASCAR's official fuel, it takes extensive planning. "Our planning begins months ahead of the event," Thomas Golembeski, Sunoco's manager of media and public relations, said this week. "Once the fuel gets onto the dedicated fleet of Sunoco tankers, there's a strict chain of custody from the moment the fuel leaves the plant until it arrives at the track. "There are about 100 people on regional crews that oversee that process.
BUSINESS
June 29, 1999 | By Joseph N. DiStefano, INQUIRER STAFF WRITER
Sunoco is urging summer travelers to get "pumped up. " But investors in the century-old Philadelphia petroleum processor haven't had a lot to celebrate lately. The U.S. oil refining and marketing industry is in a funk. Gasoline prices have been rising more slowly than crude oil costs, and that squeezes gas merchants such as Sunoco. This is, as chairman Robert H. Campbell puts it, "a tough, dog-eat-dog business. " At a Philadelphia Securities Association luncheon last week, he admitted Sunoco won't meet its 15 percent earnings-growth target this year.
NEWS
May 10, 2009 | By Lini S. Kadaba INQUIRER STAFF WRITER
Workers spent much of yesterday cleaning up a gasoline leak at a Sunoco storage facility in Upper Chichester that has affected aquatic life in a tributary to Marcus Hook Creek, a spokesman for the state Department of Environmental Protection said. A witness driving by the scene at 11:30 p.m. Friday noticed a "geyser of gasoline" gushing from the Sunoco pump station on Route 322 in Twin Oaks and notified authorities, DEP spokesman Dennis Harney said. He said officials estimated that thousands of gallons of gasoline had spilled.
NEWS
January 18, 2012
Sunoco Inc., distributed 56.7 million shares of SunCoke Energy Inc. to its shareholders, completing the spin-off of its metallurgical coke subsidiary. Sunoco no longer owns any shares of SunCoke. Sunoco shareholders received 0.53046456 share of SunCoke common stock; each fractional share was worth $6.82 at the market close on Wednesday. Sunoco shares closed Wednesday at $37.07. That means the value of a Sunoco shareholder's investment in the two companies increased about 3.7 percent in trading Wednesday on the New York Stock Exchange.
NEWS
August 5, 2011
Sunoco Inc. said it has acquired leasehold interests in 14 convenience store locations in central Pennsylvania from the Shipley Group, a private York, Pa., company that operates the outlets as Tom's Stores. Terms were not disclosed. The Philadelphia refiner, which is shifting its focus from manufacturing to retailing, expects to convert the outlets to the Sunoco and APlus brands by the end of 2011. The stores are in Adams, Cumberland, Lancaster, Perry and York Counties.
1 | 2 | 3 | 4 | 5 | Next »
ARTICLES BY DATE
BUSINESS
August 23, 2014 | By Andrew Maykuth, Inquirer Staff Writer
Despite an adverse advisory opinion that its Mariner East pipeline does not qualify as a public utility, Sunoco Logistics Partners is plowing ahead with plans to develop the Marcellus Shale project. The Philadelphia company, in a filing this week, urged the Pennsylvania Public Utility Commission to reject a recommendation from two PUC administrative law judges that its Marcellus pipeline is not a public utility. The company, which is repurposing a petroleum pipeline to transport Marcellus Shale ethane and propane to Marcus Hook, said the judges' recommendation in July was "clearly erroneous" and misinterprets previous court and PUC rulings.
BUSINESS
August 10, 2014 | By Andrew Maykuth, Inquirer Staff Writer
Another European firm has signed a deal to buy Marcellus Shale gas liquids, advancing plans to build a second Pennsylvania pipeline to supply an export terminal in Marcus Hook. The Austrian petrochemical company Borealis said Thursday it had signed a 10-year contract to buy ethane produced from the Marcellus and Utica Shale formations. The liquid, a raw material in plastics production, would be piped across Pennsylvania and loaded onto ships bound for Sweden at a Sunoco Logistics Partners terminal in Marcus Hook.
BUSINESS
July 7, 2014 | By Andrew Maykuth, Inquirer Staff Writer
Sunoco's good corporate name is taking a beating these days, as community activists and bloggers post snarky statements under headlines like "Sleazy Sunoco," linking the company to fracking and eminent domain. The trouble for Sunoco Inc., the Philadelphia company with nearly 4,900 retail fuel stations and convenience stores in 23 states, is that it has nothing to do with the cross-state pipeline project that has attracted fierce local opposition and has become embroiled in a contentious matter before the Pennsylvania Public Utility Commission.
NEWS
June 29, 2014 | By Michaelle Bond, Inquirer Staff Writer
Chester County residents and local and state officials gathered Thursday in West Goshen to discuss how best to keep fighting Sunoco's plans to go around local zoning laws for its Mariner East pipeline project. The project includes a pumping station near a residential area in the township. The Chester County Community Coalition, which calls itself a grassroots movement to keep people informed about local issues, organized the meeting of about 70 people at the township building to share information and continue to gather public opposition to the project.
BUSINESS
June 12, 2014 | By Andrew Maykuth, Inquirer Staff Writer
An array of critics has challenged Sunoco Pipeline L.P.'s attempt to win crucial public utility status for its embattled Mariner East pipeline by recasting the local benefits of the project. Several advocacy groups filed objections with the Pennsylvania Public Utility Commission before Monday's deadline, calling on the PUC to reject Sunoco's application to declare its cross-state pipeline a public utility, which would allow it to bypass local zoning controls. Sunoco is repurposing an 83-year-old refined-products pipeline to transport Marcellus Shale natural-gas liquids to Marcus Hook, where most of the material - ethane and propane - would be exported.
BUSINESS
May 11, 2014 | By Andrew Maykuth, Inquirer Staff Writer
Sunoco Pipeline L.P. has filed an amended application for its controversial Mariner East project it hopes will strengthen its case that the cross-state Marcellus Shale pipeline is exempt from local zoning restrictions. The Philadelphia pipeline company filed new papers late Thursday with the Pennsylvania Public Utility Commission proposing to deliver propane from Western Pennsylvania to its Twin Oaks terminal in Delaware County. The filing became public Friday. By delivering propane to Pennsylvania customers, the project would be subject to PUC tariff regulations as an intrastate pipeline.
BUSINESS
May 9, 2014 | By Andrew Maykuth, Inquirer Staff Writer
Local opposition to a Sunoco Logistics Partners Marcellus Shale pipeline should not delay the project or add to its cost, the company's president told investment analysts Wednesday. Michael J. Hennigan, chief executive of the Philadelphia pipeline company, said the 299-mile Mariner East project, which would transport natural gas liquids on an existing pipeline to port facilities in Marcus Hook, is moving ahead. "Obviously, whenever you're engaged in a project, you're going to run into some local discussions," Hennigan said.
BUSINESS
May 5, 2014 | By Andrew Maykuth, Inquirer Staff Writer
In October, Kevin Clancy received a puzzling visit from a representative of Sunoco Pipeline L.P. at his house on Marydell Drive in East Goshen. The representative, who worked for an engineering firm hired by Sunoco, wanted to survey Clancy's property. The company was considering building a pipeline at the rear of Clancy's suburban lot, next to an existing pipeline it operated beneath Boot Road. Clancy, who had commissioned a title search on the property a few months earlier when his family bought the house, was unaware of any pipeline easement.
BUSINESS
May 1, 2014 | By Andrew Maykuth, Inquirer Staff Writer
Sunoco Pipeline L.P. said Tuesday that it was switching strategies in its effort to move Marcellus Shale products to Marcus Hook and avoid local zoning hurdles. The company said it was withdrawing an application for a controversial pumping station in Chester County on its cross-state pipeline called Mariner East. Instead, Sunoco is concentrating on getting the Pennsylvania Public Utility Commission to rule that it is a public utility corporation and therefore exempt from cumbersome local zoning.
BUSINESS
May 1, 2014 | By Andrew Maykuth, Inquirer Staff Writer
Sunoco Inc.'s parent company said Tuesday that the regional fuel retailer would retain a substantial corporate presence in the Philadelphia area after it merges this year with a Texas convenience-store chain. Energy Transfer Partners L.P., the Dallas pipeline operator that bought Sunoco two years ago, announced Monday that it is buying Susser Holdings Corp. for $1.8 billion. Susser operates 630 company-owned convenience stores in the Southwest, mostly under the Stripes brand, and is a wholesale distributor of motor fuels to 616 other dealers and 1,800 commercial customers.
1 | 2 | 3 | 4 | 5 | Next »
|
|
|
|
|